Syedur Rahman, a partner at Rahman Ravelli, which is representing Fetch.ai, said:
We need to dispel the myth that cryptoassets are anonymous. The reality is that with the right rules and applications they can be tracked, traced and recovered.
Rahman said that Binance intends to comply with the order and it is already tracking down the individuals responsible for the hack and has frozen some of the affected assets. Before returning the funds, exchange may request evidence for the hack from Fetch.ai.
Binance has faced an intense regulatory scrutiny lately resulting from regulatory crackdown on cryptocurrency following concerns that crypto exchanges can be used for money laundering or pose risk for customers to fall victim in scams. In June, the FCA banned Binance from undertaking any regulated activity in the UK.
